Business Owners Policy(BOP)
A policy that includes multiple coverages to help protect your business
What is a Business Owners Policy?
A Business Owner’s Policy (BOP) combines two key types of coverage—general liability and property insurance—into one cost-effective package. It’s designed to protect your business from common, unexpected risks. Ideal for small to mid-sized businesses like hair salons, florists, landlords, photographers, and many others.
Its good to know that:
A BOP can easily be customized to match the unique needs of your business.
Equipment breakdown, loss of income, money and securities protection and more are included at no additional charge.
Harbor One business owners insurance is priced affordably, with rates based on your specific business type, property value, ownership details, and other key factors.
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What does a Business Owners Policy Cover?
Business owners insurance is designed to protect you against a broad range of risks. The coverages typically included in a BOP are:
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Commercial auto insurance: Covers legal costs and damages if someone is injured at your business or if you accidentally cause damage to someone else’s property.
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Property Insurance: Provides coverage for physical damage to buildings you own, as well as protection for your office furniture, equipment, and inventory in the event of a covered incident.
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Loss of Income: Helps replace lost income and cover ongoing payroll expenses if your business is forced to temporarily close due to a covered event—up to 12 months.
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Equipment Breakdown: Covers repair or replacement costs when essential equipment breaks down due to a covered cause, helping you resume operations quickly.
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Professional Liability: Protects you against claims of negligence or mistakes related to the services you provide, offering tailored coverage for certain professions facing potential lawsuits.
Consider adding additional coverages
Every business operates differently. The type of work you do, the size of your team, and other unique factors can mean that a standard Business Owners Policy doesn’t provide all the protection you need. That’s why we offer a variety of additional coverage options that can be tailored specifically to your business.
Some of the most commonly selected enhancements include:
Workers' compensation
Workers’ compensation helps protect your crew against work-related injuries or illness. Requirements for workers’ comp vary by state.
Commercial liability umbrella policy
Commercial liability umbrella policy (CLUP) gives you an added measure of protection when your covered liability losses exceed your policy limits.